Starting a successful dental clinic can prove to be a challenging yet exciting task. Dentistry is much revered and sought-after stream of healthcare in India. There are almost 93,000 practising dentists in India, and 136 different dental colleges across the nation produce a further 6,000 practitioners every year.
However, despite the significant number of people graduating and starting their practice every year, there is a severe lack of available dental practitioners across the nation. A recent estimate from the World Health Organisation shows that there is less than one dentist for every 10,000 Indian citizens. This problem is even more predominant in rural areas, where the percentage of dentists and patients can reach as low as 0.3 for every 10,000 people.
Thankfully, a significant influx of private medical practice amongst newly graduates has improved the conditions in recent years. A large number of dentists opt to start their own clinic after completing their degree. Different types of healthcare finance options like start-up loans, loan for doctors, etc. have made it easier for a new practitioner to overcome the monetary gap and establish a practice of their own.
Cost of starting a dental clinic
The primary expenses associated with starting a dental clinic comes from the cost of equipment and establishment. Other factors like consumable, setup, attendants and nurses, fee, running overhead cost should also be accounted while starting a new practice. It also depends on what type of services a practitioner is likely to offer. Establishing cutting edge equipment for digital dentistry, the future of dental practice, is likely to cost a lot more than usual equipment. Here is a breakdown of the outlays.
- Establishment – It is one of the primary factors every new practitioner have to account. Most usually prefer to rent if they start their practice in a busy neighbourhood, and opt for building their chambers if practising in less densely populated areas. Both cases are likely to cost a significant amount of money, upwards of Rs. 3 Lakh to Rs. 4 Lakh to create the necessary infrastructure.
- Equipment – Procuring the necessary equipment can also put a substantial financial strain on an individual’s budget. Fixed units like a dental chair can cost between Rs. 1.5 Lakh to Rs. 2 Lakh, while other tools like RVG, X-ray machine, autoclave, etc. can cost between Rs. 50,000 to 1.5 Lakh each. These details that are necessary for every dentist looking to purchase dental equipment should be considered before making the budget. They can also opt for a loan for dental clinic to ensure they don’t deplete their savings and maintain a proper overhead capital after procuring all the equipment.
- Consumables – Consumables like elevator set, prosthetic equipment, filling material, dispensers, etc. is likely to cost approximately Rs. 40,000 to Rs. 70,000 in total. Moreover, as these consumables require to be destroyed after every use, the total cost of purchasing these materials are likely to occur again after a certain period of time. The large sum obtained from a loan for dental clinic can prove beneficial in such cases.
- Workforce – An experienced workforce is necessary for the proper operation of every healthcare clinic. The cost associated with hiring such a workforce includes monthly compensation, benefits, and other charges associated with hiring full-time employees.
Despite the substantial cost, Indian medical industry has seen an increase in the number of available practitioners, primarily because of the availability of affordable loan for dental clinics. There is a significant number of financial institutions that offer such credits to eligible applicants.
Like any other type of medical practice, dentistry also requires a substantial investment, especially for setting up a clinic and procure the required equipment and workforce. It is absolutely necessary for a practitioner to know about some of the different types of expenses he or she might face while starting a private practice.